Cryptocurrency exchange Binance has become one of the major investors in the project of decentralized Bank to be established in Malta.
The company confirmed to Bloomberg that acquired a 5 percent stake in Founders with Bank pre-investment valuation of $155 million.
The crypto currency exchange and other participants in the blockchain of the project in Malta said that they tend to turn startups in decentralized and owned by first community Bank in the world, subject to obtaining the necessary permits.
Founders Bank will organize the placement of securities through blockchain platform fundraising Neufund, releasing a “legally binding action-tokens”, said the participants of the project.
The Bank will have to obtain a license from the regulatory bodies of Malta. As a member country of the EU, will also require the approval of the European Central Bank.
“As a concept is fascinating. It is obvious that they have to deal with the regulators to combat money laundering. The question will be how regulators will look at it?”, — commented for Bloomberg news mark Ostwald (Marc Ostwald), a global strategist at ADM Investor Services International.
He also added that the approach of local authorities may differ from the approach of the ECB. Malta is positioning itself as a friendly jurisdiction for industry of the blockchain and cryptocurrency. Recently the island nation the first in the world to implement the regulation of this sector.